NEW YORK (CNN) - New York Mayor Michael Bloomberg announced Thursday he is asking the city council to change the office's two-term limit allow him to run for a third term.

"If the City Council should vote to amend term limits, I plan to ask New Yorkers to look at my record of independent leadership and then decide if I've earned another term," Bloomberg said in a news conference at City Hall.

The mayor, a billionaire businessman, is credited with helping New York City recover economically after the terror attacks on September 11, 2001, which felled the twin towers of the World Trade Center and killed more than 2,700 people.

Elected for the first time just two months after the attacks, Bloomberg pumped tens of millions of dollars of his own money into that campaign, as well as his bid for re-election in 2005.

"As a businessman with expertise on Wall Street and finance and as a mayor who has balanced budgets and delivered services, I can tell you that the enormity of the challenges ahead should not be underestimated," Bloomberg said.

"I care deeply about sustaining the progress we made and finishing the job the voters elected me to do."

Bloomberg, an independent since 2007, wants city council to change the current two-term limit law and offer voters another choice.

"As always, it will be up to the people to decide, not me," he said.

In 2005, Bloomberg easily defeated his Democratic opponent, Fernando Ferrer, the former Bronx borough president, who was never able to gain any traction against the popular incumbent.

Bloomberg runs Bloomberg L.P., a global communications company that provides news and financial services to thousands of businesses worldwide.

soundoff(192 Responses)

banderson

Even though I like Mayor Bloomberg and I think that he has done a good job for the city of New York, I am against a third term because when politicians start using the economy or natural disasters or wars to justify changing term limits then when will it end?

October 2, 2008 02:20 pm at 2:20 pm |

Tony

YOUR TIME IS UP MIKEY!

TAKE IT LIKE A MAN!

October 2, 2008 02:21 pm at 2:21 pm |

Shari, NY

I am on the fence with this one. As a New Yorker I must say that my neighborhood has benefited during his term, however we cannot keep holding on to power while new blood remains untapped. Since the fiscal crisis will have repercussions in New York City, perhaps Mr. Bloomberg could serve just one more term and that's it.

October 2, 2008 02:22 pm at 2:22 pm |

Toni - Atlanta

I believe in term limits - maybe we can use Bloomberg's financial expertise in the next administration! It may be a good time for him to make an endorsement, though.

October 2, 2008 02:22 pm at 2:22 pm |

bigbubba

Would Bloomberg ask for this if there were a Democrat running New York?

No, he would be screaming at the top of his lungs that two terms are the limit. That they have been the limit for every mayor. That demanding special treatment is not only unfair it is un-American.

What?? It is a Republican asking to be allowed to run until he gets tired of being a mini-King. Well that is a different story. Of course it is OK.

October 2, 2008 02:23 pm at 2:23 pm |

Tom in CA

Sorry...it's time to move on.

October 2, 2008 02:26 pm at 2:26 pm |

BRIDGE & ROAD TO NOWHERE

NOPE...YOUR TIME IS ALMOST UP.

GOOD BYE....

October 2, 2008 02:27 pm at 2:27 pm |

Kevin Leo (Jonesboro, GA)

I would be in favor of this ONLY if the citizens of NY voted to make the change and not just the city council!

October 2, 2008 02:27 pm at 2:27 pm |

Barbara GA

He would be awesome as one of the new Presidents Cabinet members. We could use him to help straighten out the mess we are in.

October 2, 2008 02:27 pm at 2:27 pm |

Greg, San Francisco, CA

He was against it when Giuliani tried it but now he's for it? Methinks he's trying to stay in the spotlight until the 2012 election.

October 2, 2008 02:28 pm at 2:28 pm |

sine

I think he deserves it, and has the interest of New York at hand. He is a billionaire who gets paid 1 dollar to be the mayor.

I say give it to him.

October 2, 2008 02:28 pm at 2:28 pm |

Melissa

term limits are there for a reason. They are needed.

October 2, 2008 02:29 pm at 2:29 pm |

karen raleigh

Maybe for Bloomberg but I believe ther should be term limits for these people–40 years for Dole-they all get too comfortable with their position–younger minds are needed.

October 2, 2008 02:32 pm at 2:32 pm |

Cuban-mami-4-OBAMA

GO FOR IT NYC..........BLOOMBERG IS BRILLIANT!

October 2, 2008 02:32 pm at 2:32 pm |

Republicians

Republicians – Always want'n to change the rules for personal gain.

October 2, 2008 02:34 pm at 2:34 pm |

CNN=worst blog

Your all a bunch of children. you write the same hateful comments to every headline in the ticker. your all sheep to obama who have nothing else to say apart from what daily kos tells you (even though most of it is a lie). This blog is by far the worst of all going around.

October 2, 2008 02:34 pm at 2:34 pm |

Lyn

If he does a good job, why not let him be the third term Mayor? Vote for him....

October 2, 2008 02:36 pm at 2:36 pm |

Southern view

As a Wall Street insider, and with the health of the New York economy at stake, maybe the best bailout would be for Bloomberg to put his billions to loan the lenders to end the credit crunch. That is better than spending it on his campaign.

October 2, 2008 02:36 pm at 2:36 pm |

david

Simple answer, No

Even if Obama became the greatest president of all time, his third term request would be denied by me. No questions asked.

Let Freedom Ring!!!

October 2, 2008 02:37 pm at 2:37 pm |

Patrick Henry

Let the butterflies and forest creatures decide if this is a good thing.

Lay out some papers with his name on it in the forest ( a parke will do). Then chant–save us Mike three times.
Take off all your clothes and dance around the papers nude.
Ask for the Earth Goddess to bless your choice.
If Bloomberg is the one–all of the other papers will become invisible.

Long live, Mike "the wonk" Bloomberg. May he continue to receive and decieve his constituents.

October 2, 2008 02:37 pm at 2:37 pm |

Uncle Sam

Many voters are so hell-bent on change that they would elect the devil himself if he had a "D" after his name and would be touting his expertise on global warming.

October 2, 2008 02:38 pm at 2:38 pm |

Patrick Henry

Perhaps the rest of us would take you New Yorkers seriously if you learned how to use consonants and vowels.

October 2, 2008 02:39 pm at 2:39 pm |

bob in L.A.

Interesting- most of these types of law reversals are done for the NEXT administration, such as raises for the President.
It would seem pretty partisan to have a sitting mayor get that extention.
Bloomberg- why not sit out 4 years, use your monetary expertise to help the next Pres. and then run again?

October 2, 2008 02:39 pm at 2:39 pm |

Brooke

I have a problem with someone wanting a third term and then having the restrictions lifted to allow them to do it. If there are term limits they should apply to everyone and not just to non billionaires.